The Complete Guide to Selecting Your Litecoin Wallet

Your Litecoin wallet will be perhaps the most important tool you have for securing and protecting your Litecoins and other digital currencies, so make sure you take some time to familiarize yourself with them!

What are Litecoin Wallets

Like Bitcoins, Litecoins can be stored in a digital wallet. This wallet will track the total value of your Litecoins and allow you to conduct various transactions. It might be easier to think of your ewallet as a sort of email system, except instead of sending and receiving messages, you can send and receive Litecoins and money. You can also track your history of exchanges and monitor your financial transactions.

Each type of wallet has it’s pros and cons. Web wallets are risker since someone can hack the companies servers and steal your coins, but on the other hand you can use them from anywhere in the world. Offline wallets are considered safer since someone will need physical access to your computer to steal them, but you will also be able to send Litecoins only from that specific device.

Some wallets are completely free, while other wallets charge fees for various transactions. Make sure you read any fine print when choosing a wallet and pay close attention to any fees, as they can add up very quickly. There are several Litecoin wallets currently available, so we will go over some of the most popular options. Unlike Bitcoin there aren’t many options for Litecoin wallets, so I tried choosing the top 3 for you to cosider.

Hardware wallets – These wallets are a small piece of hardware that connects to your computer via a USB portal. They allow you to send and receive Bitcoins with complete security as all of the “important stuff” is done offline on the hardware device. These types of wallets are the most recommended but they also come at a price.

If you want a deeper understanding of how wallets work please watch this video about Bitcoin wallets. Even though the topic is Bitcoin wallets, the same principles apply for all cryptocurrency wallets:

Top 5 Litecoin wallets available

TREZOR – TREZOR is a hardware wallet that can hold Litecoin as well as Bitcoin, Dash and other cryptocurrencies. It costs around $99 but is well worth the extra security you get by using such a wallet. Also, since it’s a multi currency wallet you can use one TREZOR wallet for many different coins.

Ledger Nano S – The Nano S is probably one of the best wallets around. It’s a hardware wallet that can store Litecoin, Dogecoin, Bitcoin, Dash and even Ethereum. It costs around $59 and has similar features to the TREZOR.

Litecoin-QT – This is a desktop wallet for Litecoin which I personally use. Very convenient but you need to remember that once you use this wallet it means that your computer now stores all of your Litecoins. Litecoin-QT is 100% free to use.

Jaxx – A cross platform Bitcoin and altcoin wallet. Jaxx works on Desktop and mobile and is very intuitive and easy to use. You can read our full review here.

Exodus – A beautifully designed wallet for Blockchain assets. Allows you to hold Bitcoin, Litecoin, Ethereum and other cryprtos. Read our review here.

Liteaddress.org is a simple service that will generate a Litecoin key and address for you. You can then print the key and address and safely store Litecoins offline. Due all of the thefts that have occurred with Bitcoins and online wallets, many people now prefer to store coins offline. This service is definitely worth a look if you are looking for a way to easily store Bitcoins offline. Read this post to understand how to create a 99.9% safe paper wallet.

Before selecting your Litecoin wallet

When selecting a wallet for any of your digital currencies, you need to make sure that you are very careful and go with a trusted and transparent company. There have been numerous Bitcoin scams that have resulted in people losing thousands, and even millions of dollars worth of Bitcoins. Occasionally, people try to save small amounts of money by selecting less transparent wallets with cheaper fees. Unfortunately, attempts to save pennies sometimes result in people losing huge sums of money.

Companies that are backed by Silicon Valley ventures, or are officially incorporated in the United States and other developed countries, for example, are probably more trust worthy than companies that don’t disclose their location, or are located in areas with poor enforcement measures.

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Oleg

Hello everyone.

For long-term storage I use cold wallet as Ledger and another currencies (for trading) I keep on market.

For currency exchange I use BestChange website.

They convert USD-BTC-ETH and tons of it in seconds.

I know it’s not safe but I keep your cold wallet without usage and that’s the biggest success for safety.

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4 months ago

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David Jacobs

o whom it my concern.
I have an Litecoin wallet and I can access the wallet and my account by clicking on the Litecoin symbol on my desk top however this evening I wanted to send some Litecoin to another exchange but they ask for a passphrase. I don’t have a passphrase. I only have the 50 sets of numbers I copied and pasted. Can I access my passphrase using these numbers and how would I go about doing it.
Thanks so much for your time.
David Hanigan

Hi Steve, this is an amazing site and you are soooooo helpful. Went through your posts and it helped me a lot on how handle LTC and BTC. Thank you!!! Now, I have another newbie question, I moved my ETH from coinbase to https://www.myetherwallet.com and when I login I use Keystore / JSON File and password. Would you consider that safe? I didnt want to use their desktop version. With json file, I thought the private key is not stored there… Not sure why MEW does not recommend to login with this type. Also, I did similar to NEO, by… Read more »

Hi Steve, wow, respect to you and yourteam for the commitment you´re answering all those questions! thank you! I would be so glad, if you could help me: Itransferred 5 LTC from binance exchange to -what I thought- was my trezor litecoin adress. I definetly did copy and paste the adress on my desktop! But i can´t find those LTC anymore, checking for the transaction online says everything is fine, transa. fulfiled, deposit is untouched. On my trezor i tried all three options (don´t know, segwitt, legacy) but none of them shows the balance, all 0 transactions. My question now… Read more »

I am using liteaddress.org.
When I go to liteaddress.org from my desktop, it initially generates a public/private key for LTC.
Then I disable my network card (can’t get online now).
Then I press [Generate New Address].
Now I have new LTC public/private keys.
Then I can print this out making a paper wallet.
I believe this is safe way, because the new public/private keys are generated by the Javascript in your browser while OFFLINE.
Then I re-enable my network card.
Please comment if you don’t believe this is THE WAY ;-)

I’m not sure I understand. The author cautions against purchasing wallets because they’re cheap, but then says that he uses Litecoin-QT and that it’s free.

I do have a question, though: Is there a secure wallet that I can use to store several different types of currencies? I litecoin, but I’d also like to purchase Ripple, etc. If this exists, which would you recommend?

Hi All, I have been purchasing Litecoin slowly and sending to my Litecoin Core Wallet. From what I’m reading, this is not a secure storage place for the long haul…(?)…and I ‘think’ that I would personally be more comfortable using a device to store off the computer. So, this is definately a newbie question but why couldn’t I just use a large external drive to hold my coins? Why do I have to purchase a special device? Next newbie question, if I did purchase a devise do I still use Litecoin Core Wallet? Or does it go right from Coinbase… Read more »

i need ur suggestion can u tell me which is best online web wallet for litecoin . i want to store them online not in hard wallet can recommend me any like i can store bitcoin in many web wallet like block chain or local bitcoin can u suggest me any for litec